MSE News: Mortgage price war intensifies with HSBC 1.69% five-year fix

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High street giant HSBC has launched the new lowest five-year fix rate mortgage on the market - at 1.69% with a £999 fee if you borrow 60% of your home's value....

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'Mortgage price war intensifies with HSBC 1.69% five-year fix'

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Pincher

The worm eating itself, symbol of renewal/rebirth.

Get a 1.69% mortgage from HSBC

Open a HSBC Invest Direct account, and buy HSBC shares using the money from the mortgage. At £6.70 a share, the 40p dividend is about 5.97%.

Pay the mortgage using the dividend.

At the end of five years, sell the shares and pay back the mortgage.

An abstract and yet living manifestation of the Worm Oroboros.
HSBC feeding upon itself.

I submit this as an entry for the Turner Prize.

If it works out, it should generate money all by itself, but Charles Saatchi can't buy it off me. I'll just have to make do with the prize money.


Even if it just break even, I would like to do it, just for art's sake.